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Georgia Bank Fails; 2012 Tally at 39

Written by: Philip van Doorn07/27/12 - 5:34 PM EDT

NEW YORK (TheStreet) -- State regulators late Friday afternoon closed Jasper Banking Co. of Jasper, Ga., bringing this year's total number of bank failures to 39.

The failed bank was previously included in TheStreet'sBank Watch List of undercapitalized institutions, based on regulatory data provided by Thomson Reuters Bank Insight.

Jasper Banking Co. had $216.7 million in total assets and $213.1 million in deposits. After being appointed receiver, the Federal Deposit Insurance Corp. sold the failed institution to Stearns Bank, NA, of St. Cloud, Minn.